FNB NAMIBIA AND CPBN STRENGTHEN COLLABORATION
FNB Namibia recently hosted the Central Procurement Board of Namibia (CPBN) for a strategic stakeholder engagement focused on performance guarantees within public procurement. The session forms part of CPBN’s broader effort to strengthen collaboration with financial institutions and enhance the efficiency and integrity of procurement processes across the country.
The CPBN delegation, led by Chief Executive Officer Idi Itope, was welcomed by FNB Namibia’s Enterprise Banking leadership, including Head of Enterprise Banking, Leonard Hamunyela, and Manager of Public Sector, Priscilla Akudhenga. At the heart of the engagement was a shared commitment to deepen understanding of the requirements and processes associated with performance guarantees, a critical enabler of public sector contracting. In terms of Section 55(6) of the Public Procurement Act (Act No. 15 of
2015), performance guarantees are a mandatory requirement prior to the awarding of contracts, playing an essential role in safeguarding public funds and ensuring delivery against contractual obligations.
FNB Namibia used the platform to provide practical insight into the end-to-end process of issuing performance guarantees, including application and documentation requirements, credit assessment considerations, and standard processing timelines. The discussion also addressed common challenges experienced by bidders, alongside best practices that can support more efficient and predictable issuance.
Importantly, the engagement created space for open dialogue on how financial institutions and the CPBN can work more closely to reduce bottlenecks that may delay project implementation.
Both parties recognised the importance of ensuring that Namibian businesses are well- positioned to meet procurement requirements and access opportunities in a timely and sustainable manner.
Speaking to the engagement, Mr Hamunyela emphasised the role of the banking sector in enabling growth within the public procurement ecosystem. ““Performance guarantees are often seen as a compliance step, but in reality they are a critical enabler of economic participation. When these processes are unclear or delayed, it is not just paperwork that is affected, but the pace at which projects move and opportunities are realised. Our focus is on simplifying and strengthening this process so that businesses can participate with greater certainty, and public sector projects can be delivered more efficiently.” This engagement reflects FNB Namibia’s continued commitment to partnering with key stakeholders to unlock practical solutions that support economic participation and growth.
By contributing to improved efficiency, transparency and collaboration within the procurement value
chain, the bank continues to play an active role in strengthening Namibia’s economic infrastructure. FNB Namibia remains dedicated to delivering innovative, responsive financial solutions while supporting initiatives that enhance resilience and accountability within the country’s public procurement ecosystem.
